Closing Brief

US equities started the week and closed the month on a rather bearish note, sp' -16pts @ 1972. The two leaders - Trans/R2K, settled lower by -0.8% and -0.3% respectively. Near term outlook is for a retrace of the 126pt hyper ramp... to the sp'1945/30 zone before the Friday jobs data.


sp'60min

Summary

... and August trading comes to a close.

I will post a number of end month bits and pieces in my late day post at 11pm EST.
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As for today... things were certainly leaning on the bearish side, and there is very high probability that sp'1993 was indeed the first peak of the bounce from the double floor of 1867.

Best guess remains... 1945/30 by Thursday... and then UP.
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more later... on the VIX